So I've heard we get to have three characters that can trade gear using the vault. So I know me, I'm going to want to try out every variation of customization on both male and female models of the three races trying to find my perfect roster. But that will take some time and while that is happening I'll be unlocking gear and weapons. Can I store those items and delete a character and then reclaim it with another build at a future date? So basically I create an male Warlock. I then take him to a level 11 and I get bored with him. He's just not working out in developing an investment. So I delete him and create a Human Female Warlock and she's level 1. Can I take her to the vault and claim the previous gear? I'm sure I gotta get her to 11 to reclaim it but can I? Also I'm wondering if we can keep visually updating our facial features and physical appearances, or does it lock forever until we find a Merchant that can let us re-customize? Oh well, just writing out loud.
The vault serves as an account stash. Its like a safe haven for your equitpment deleting your character should and hopefully will not delete the items stashed in your vault/account stash.